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Mt. Gox shuts down Bitcoin transactions


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Following a rumored $350 million hack and extended downtime, Japan-based Bitcoin exchange Mt. Gox has released an official statement confirming that it has shut down “all transactions for the time being.”

This decision, according to Mt. Gox’s official site, was made to protect the exchange’s service and users. Here is the Mt. Gox statement, in full:

Dear MtGox Customers,

In the event of recent news reports and the potential repercussions on MtGox’s operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.

Best regards,
MtGox Team

This announcement follows a joint statement made by Mt. Gox’s competitors, including CoinbaseKraken and The statement condemned Mt. Gox’s actions as a “tragic violation of…trust.”


It is currently unclear whether victims of Mt. Gox’s shutdown will see their assets returned to them. That said, many former Mr. Gox users have already taken to public forums such as Reddit to mourn their losses and defend the larger Bitcoin community.

This development may damage Bitcoin’s image and has already affected the currency’s trading price. That said, even a permanent Mt. Gox shutdown doesn’t mark the end of Bitcoin.

  • Click To Share

    bit coins are looking a bit risky.

  • Michael Raibin

    . What a mess ! I may be biased, but you can’t beat real estate investment – it’s tangible, can produce income & capital growth

  • Richard Carman

    Someone should do time for this: “: Mt. Gox shuts down Bitcoin transactions –”

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